Blue Bubble Lettings Limited Landlord Terms of Business Fully Managed Service

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1 Blue Bubble Lettings Limited Landlord Terms of Business Fully Managed Service This agreement is made between the Landlord(s) of the property and Blue Bubble Lettings Limited, acting as the Landlord s Agent. This document clearly lays out the service offered by Blue Bubble Lettings Limited, together with the fees, based on a no let, no fee basis. Fully Managed Service This service is for Landlords who wish to have a Tenant(s) found by, and have the rental managed by, Blue Bubble Lettings Limited. This service includes the following: Market Appraisal - Advice on an achievable rental income, based on market comparables for the time of year. Advertising the property online using search engines such as Rightmove.com, complete with internal images (where possible) and description. Conducting property viewings and negotiating rental terms between the Landlord and Prospective Tenant(s). The Prospective Tenant(s) will be fully referenced, using an independent referencing service and only if they are accepted on every count will they be allowed to progress through to renting the property. Alternatively, a guarantor can be referenced to assess suitability to guarantee the rent for the full term of the let. Prospective Tenants who fail their referencing may still be accepted at the Landlord discretion. An Assured Shorthold Tenancy agreement will be drawn up to be signed by the Tenant(s) and a representative of Blue Bubble Lettings Limited in the absence of the Landlord. If the Landlord has a preference to the initial tenancy agreement length, Blue Bubble Lettings Limited must be informed of this in writing prior to the tenancy. A typed inventory should be provided by the Landlord and two copies provided to Blue Bubble Lettings Limited prior to the day of move in. An independent inventory can be arranged by Blue Bubble Lettings Limited at extra cost to the landlord. A Landlord can choose not to have an inventory at their discretion - although Blue Bubble Lettings Limited highly recommends against this.

2 Collection of all monies owed by the tenant to the landlord, registration and lodging of the Security Deposit and disbursement of monies owing to contractors. Blue Bubble Lettings Limited will manage the property, from the tenancy start date, dealing with: - Property inspections at least once every six months. Any maintenance issues will be reported to the Landlord. - Rent collection from Tenant(s). Blue Bubble Lettings Limited will aim to pay rent (minus any relevant deductions) via bank transfer to Landlords within 24 hours of receipt. A rental statement will be provided to document the transaction. - Chasing rent arrears. - Management of day to day contact with Tenant dealing with maintenance issues and instruction of contractors as agreed/required. - Tenancy renewals as required. - Booking Gas Safety Certificates as required. At the end of the tenancy, a property check should be carried out against the inventory by the Landlord. An independent checkout can be arranged by Blue Bubble Lettings Limited at extra cost. Any dilapidations proposed will be subject to the Deposit Protection Service (DPS). A Landlord can choose not to have a checkout at their discretion - although Blue Bubble Lettings Limited highly recommends against this. General Terms As dedicated a service as Blue Bubble Lettings Limited provides, no responsibility can be taken for non-payment of rent or other default by the Tenants, or any associated legal costs. Rent guarantee protection is recommended to reduce the risk of such possibilities. Please be advised that maintenance visits are of limited scope, are of a generally superficial nature and are neither an inventory check nor a survey. All client funds are held in a designated client account. Pre Tenancy Negotiations Unless otherwise agreed in writing, Blue Bubble Lettings Limited will not communicate to the Landlord any rental offers deemed to be unfavourable or unsuitable for any reason.

3 Standard Fees Tenant Find Fee 245 Monthly Management Fee 8% of monthly rent Gas Certificates 65 EPC 60 Renewal of existing tenancy 30 Rent Guarantee Price on quotation Inventory Fee Dependant on property size Check out Fee Dependant on property size The renewal cost is only payable if Blue Bubble Lettings Limited is instructed to renew a tenancy for a fix term at the end of a fixed term. Blue Bubble Lettings Limited is not registered for VAT. General Authority By signing this document, the Landlord confirms that he/she is the sole or joint owner of the property and that he/she has the right to rent out the property under the terms of the mortgage or head lease. Where necessary, the Landlord confirms they have the mortgagee s permission to let out the property. In the case of joint ownership, all owners must sign this Terms of Business. Indemnity The Landlord agrees to indemnify Blue Bubble Lettings Limited against any costs, expenses or liability incurred or imposed on the Agent, provided that they were incurred on behalf of the Landlord in pursuit of the Agent s designated duties. To ensure that Blue Bubble Lettings Limited is able to carry out their duties, the Landlord agrees to respond promptly upon receiving correspondence or reasonable requests. Keys and Fobs The landlord must provide Blue Bubble Lettings Limited with one set of keys and fobs per tenant plus one extra set to be held by Blue Bubble Lettings Limited.

4 Maintenance Prior to Tenancy The Landlord will ensure that the property is in a good state of repair before letting, to include confirmation that the building and all furnishings conform to the following current regulations:- > Furniture and Furnishings (Fire) (Safety) Regulations > Gas Safety (Installation and Use) Regulations: An annual gas safety certificate is a legal requirement in any rental property with a gas supply. > Electrical Equipment (Safety) Regulations Council Tax The Tenant will be responsible for the payment of the Council Tax, however, if the property stands empty, is on a holiday let or certain houses in multiple occupation, the owner of the property is then responsible. Holding Fees & Deposits When a Tenant wishes to proceed with letting a property, they will be asked to pay a holding fee to demonstrate serious intent. This fee will protect Blue Bubble Lettings Limited against any administrative expenses that may be incurred, such as referencing, conducting viewings and re-advertising, should the prospective Tenant withdraw the application or fail referencing. The holding fee will not protect the Landlord against loss of earning should the Tenant fail to take the property. If the Landlord requires a greater holding fee or deposit to be taken to guard against loss of earnings, Blue Bubble Lettings Limited should be notified in writing when returning this document. Upon signing the Assured Shorthold Tenancy Agreement, Blue Bubble Lettings Limited will take a full deposit (equal to a month s rent) and the first month s rent in advance. The deposit will protect the Landlord against any damage to the property during the tenancy or rent owing, with any deductions being made at the end of the tenancy. The deposit will be held by the Deposit Protection Service, organised and managed by Blue Bubble Lettings Limited. Landlords are welcome to register the security deposit themselves, but proof of membership with a Deposit Protection Service is required prior to the security deposit being released.

5 Termination The Landlord should be aware that a tenancy agreement entered into on the Landlord s behalf is a legally binding document for the term agreed. As such, details of any Tenancy Agreement will be communicated onto the Landlord as soon as possible. The Landlord should also be aware that the legal minimum notice period to Tenants under Assured Shorthold tenancies is two months (should the contract allow for early termination) and this needs to be given even in the case of a fixed term tenancy which is due to expire. Instructions It is agreed that any instructions to Blue Bubble Lettings Limited from the Landlord regarding termination, proceedings, major repairs, payment details or other significant details regarding the letting be confirmed to Blue Bubble Lettings Limited in writing. Insurance The Landlord shall be responsible for the Property being adequately insured and that the insurance policy covers the situation where the Property is let. Acceptance and Variation The terms and conditions of this Agreement may be varied by the Agent at any time, but only by prior written notification. Cancelation Period If you wish to cancel this agreement, you can do so at any point but must indemnify Blue Bubble Lettings Limited against any costs, expenses or liability incurred or imposed on the Agent, provided that they were incurred on behalf of the Landlord in pursuit of the Agent s designated duties. The agreement referred to in this section is the Landlord Terms of Business and does not refer to the Assured Shorthold Tenancy Agreement. Maintenance During Tenancy Blue Bubble Lettings Limited will exercise discretion to instruct any reasonable works to keep the Tenant safe or the property habitable or to minimise any damage during the tenany.

6 Blue Bubble Letting Limited Company Information Blue Bubble Lettings Limited Registered office: 5 Chessel Avenue, Southampton, SO19 4DY Company No Complaints Process Any complaint regarding Blue Bubble Lettings Limited s service or staff should be sent in writing to: David Hughes Director Blue Bubble Lettings Limited Ocean Village Innovation Centre Ocean Village Southampton SO14 3JZ Your complaint will be acknowledged within 3 working days and an investigation undertaken. A written outcome of the investigation will be returned to you within 15 working days. If you are not satisfied with the outcome, we ask that you allow us one more opportunity to resolve your complaint by contacting us again using the above contact details. Your complaint will be acknowledged within 3 working days and an investigation undertaken. A written outcome of the second investigation will be returned to you within 15 working days. If the complaint cannot be resolved, it can be pursued via the The Property Ombudsman (TPO) using the following details: The Property Ombudsman Milford House Milford Street Salisbury Wiltshire SP1 2BP Telephone: Website:

7 I/we confirm that I/we have read the attached Agreement and wish Blue Bubble Lettings Limited to act on my /our behalf. I/we confirm that I/we are the sole/joint owners of the Property and have the right and, where necessary, permission to instruct Blue Bubble Lettings Limited to rent the property to Tenants. Property Address. Postcode. Signed Date. Signed Date. (If Property is jointly owned, all parties should sign) Landlord s Full Name(s).. Landlord s Home Address.... Postcode. Home Phone Number.. Mobile Number Address. Landlord s Bank.. Bank Address.... Postcode.. Sort Code..- - Account Number... Account Name.. Signed on behalf of Blue Bubble Lettings Limited. Date

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